Cryptocurrency heavyweights Arthur Hayes and Raoul Pal unveiled their top altcoin picks, setting the stage for the upcoming bull run.
Their insights spotlighted key narratives and promising projects within the crypto market.
Arthur Hayes, Raoul Pal Share Top Altcoin Picks
Raoul Pal, CEO of Real Vision, remains heavily invested in the Solana ecosystem. “I’m like 90% Solana. It’s been the right bet to have over the cycle so far,” he remarked. Pal also highlighted the potential of the Ethereum/Bitcoin cross, suggesting that a breakout here could signal the start of an altcoin season.
“If the ETH/BTC cross starts breaking higher and bounces right off the bottom of the range, I’m interested in that because that’s the start of altcoin season in its truest form,” Pal noted.
This perspective aligns with the cyclical nature of capital flows within the crypto market.
On the other hand, Arthur Hayes said to be bullish on Ethena, given its potential to “displace” Tether’s USDT and Circle’s USDC, and on Ether.Fi, which currently dominates the liquid restaking ecosystem.
He also provided a bold prediction, suggesting that Aptos could overtake Solana in the Layer-1 blockchain race. Hayes emphasized the competitive dynamics within this segment, anticipating “Aptos could be the number two Layer-1 over Solana.”
Meanwhile, Pal hinted at the significance of the underlying programming language, Move. He believes it has the potential to shape the future of blockchain technology.
“Move, I think that’s a big narrative to come. We can settle that, then we can have the Aptos and Sui fight,” Pal added.
Read more: Which Are the Best Altcoins To Invest in June 2024?
The two experts also discussed the importance of strategic positioning in the crypto market. Pal warned against holding onto outdated narratives. He urged investors to focus on crypto portfolio management and the current market leaders rather than being tied to past cycles.
“Hold on to your coins, but don’t [screw] it up by owning the wrong stuff. You [don’t want to] miss out on the entire rally, which I’ve seen [because] you’re still stuck in the last narrative from three cycles ago,” Pal explained.
Hayes further elaborated on these views, noting that Cardano could be among those which do not make it to the top ten of the ongoing market cycle.
Read more: 12 Best Altcoin Exchanges for Crypto Trading in June 2024
As the market prepares for the next bull run, Hayes and Pal’s insights provide a roadmap for investors seeking to capitalize on emerging opportunities. Their focus on Solana, Aptos, and the broader L1 competition reflects the growing narratives in the crypto market.
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